As a restoration contractor, you must find ways to save anywhere that you can. This is particularly critical in fixed costs–the things you have to pay to keep your business functioning. Understanding the costs associated with your workers’ compensation can go a long way towards saving your business money. That’s why we put together the following list of ways to save money on your workers’ That's compensation costs: 1. Make sure you understand the job classifications you’re cl

Wear and tear is a common exclusion in your property and auto insurance policies. Understanding what it excludes can help you in the event of a claim. What does Wear and Tear Exclusion mean? An insurance contract's wear and tear exclusion provision state that the policy does not cover degradation from everyday, regular use. Insurance only covers losses due to unexpected events. Because every property piece deteriorates over time, insurers would be too expensive to cover such

The water exclusion in a business property policy can be challenging to navigate through. While some of these exclusions can be added back to the policy by paying additional premiums, it’s essential to understand how they can financially affect your business. The following information will be a bit technical, but knowing the case law behind the exclusions helps understand how insurance companies will respond to these types of claims. Water Exclusion The water exclusion has

Pollution liability coverage used to be included in most business insurance policies, but that changed in the 1970s with the emergence of many expensive asbestos claims. Now this coverage is primarily excluded and must be purchased separately. These claims can be filed by state and local governments, other businesses, landlords, and people who live near your business. Please do not allow a pollution claim to bankrupt your business; protect it with pollution insurance. What Is